To farm $NOT on OKX launchpool you need to buy and stake TON in the launchpool or in Wallet.
This is what happens usually when a big project like Notcoin does a big launchpools 👇
As soon as the project announces its launchpool, in which you can participate using TON, for example, everyone goes crazy to buy TON and its price increases.
BUT, when everyone is buying — big players sell right into this increased demand, and often enough, price drops straight after that.
Also, in launchpools, the more TON you contribute to the launchpool, the higher allocation of $NOT coin (or another coin) you will get. Hence, if you want to get a big allocation in the airdrop, you need to stake a lot of TON to get it. And if you buy a lot of TON, you are exposed to its price, also in a big way.
This is not ideal.
BUT, here is where lending protocols such as EVAA come to the rescue:
Instead of buying TON, you can borrow it, while supplying USDt to back it up.
This way, if TON’s price goes down, you only have to repay the number of TON you borrowed (i.e. borrowed 100 TON -> price goes down 50% -> you still only repay 100 TON). Hence, you are hedged (i.e. don’t take losses) if TON’s price goes down.
There is a caveat though. If TON’s price goes up too much (more than 33–50%), to avoid liquidation you might have to either provide more USDT to cover the price increase or repay the TON loan to get USDT back. So DYOR and keep your eyes on your account if TON gets too volatile.
To sum up, following this strategy doesn’t only get you the chance to earn APY from EVAA while also participating in a launchpool but also allows you to be less exposed to TON’s price swings, pay less fee, and get less slippage on purchasing the required TON for the public sale.
